Insurance company Tower, 35% owned by Guinness Peat Group, has requested a trading halt on its shares pending a material announcement.The company has been a steady if unspectacular performer against the backdrop of a difficult economy, reporting a $28.1 m
Insurance company Tower, 35% owned by Guinness Peat Group, has requested a trading halt on its shares pending a material announcement.
The company has been a steady if unspectacular performer against the backdrop of a difficult economy, reporting a $28.1 million profit for the 2010 financial year, up 5.6% on the previous year.
It recently announced that insurance claims arising from the Canterbury earthquake would cost the company $5 million before tax.
Tower shares closed last night at $1.83 on the NZX.
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